{"id":73795,"date":"2023-09-28T00:00:00","date_gmt":"2023-09-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/09\/28\/qatarenergy-acquires-qr-14-2-bn-in-new-lng-carriers\/"},"modified":"2023-09-28T00:00:00","modified_gmt":"2023-09-28T00:00:00","slug":"qatarenergy-acquires-qr-14-2-bn-in-new-lng-carriers","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/09\/28\/qatarenergy-acquires-qr-14-2-bn-in-new-lng-carriers\/","title":{"rendered":"QatarEnergy acquires QR 14.2 bn in new LNG carriers"},"content":{"rendered":"

Qatar\u2019s state-owned <\/strong>QatarEnergy<\/a><\/strong> has inked a QR 14.2 bn (USD 3.9 bn) agreement <\/strong> with Korea\u2019s <\/strong>HD Hyundai Heavy Industries (HHI)<\/a><\/strong> for 17 \u201cultra-modern\u201d LNG carriers<\/strong>, according to a company press release<\/a>. The acquisition kicks off the second phase of QatarEnergy\u2019s ambitious vessel acquisition program. <\/p>\n

The vessels ordered look to support long-term fleet replacement requirements and keep pace with LNG production <\/strong>as capacity ramps up with the North Field LNG expansion and Golden Pass LNG export projects, the statement said.<\/p>\n

REMEMBER- <\/strong> We first got wind of the contracts when South Korean outlets reported in June<\/a> that QatarEnergy was in talks with South Korea\u2019s \u201cBig 3\u201d shipbuilding companies \u2014 HD Hyundai Heavy Industries<\/a>, Hanwha Ocean<\/a>, and Samsung Heavy Industries<\/a> \u2014 for a new order of LNG carriers.<\/p>\n

There could be more coming: <\/strong>The company is reportedly looking to purchase USD 10.7 bn worth of vessels \u2014 making for a total of 40 vessels \u2014 from each of the \u201cbig 3\u201d firms. <\/p>\n

The acquisition spree is the largest in LNG industry history<\/strong>,the company said in the statement.The first phase of QatarEnergy\u2019s fleet expansion program saw it sign contracts with South Korean and Chinese shipyards for 60 new vessels, with the latest orders bringing the total vessels under construction for the company to 77, the release said. <\/p>\n","protected":false},"excerpt":{"rendered":"

The vessel acquisition kicks off the second phase of its ambitious fleet expansion project<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[190],"tags":[79,17,227,153,123],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-73795","post","type-post","status-publish","format-standard","hentry","category-shipping-maritime","tag-energy","tag-enterprise-logistics","tag-lng","tag-qatar","tag-shipping-maritime","wpautop","entry"],"acf":{"mongo_id":"10e63dd2-7720-49c0-9b6e-21775328f159","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/9\/1620.jpg,https:\/\/www.qatarenergy.qa\/en\/MediaCenter\/Pages\/newsdetails.aspx?ItemId=3771","photo_position":"above","homepage_title":"","full_issue_title":"QatarEnergy acquires QR 14.2 bn in new LNG carriers","related_issue":[73788],"teaser":"The vessel acquisition kicks off the second phase of its ambitious fleet expansion project","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/9\/.d3373d55-8aef-4f68-9820-7036e3dfa1b0.mp3"},"yoast_head":"\nQatarEnergy acquires QR 14.2 bn in new LNG carriers - 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